Press Releases
Year 2008
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25 Apr 2008
URA tender closes for Baker Court project
In response to media enquiries on the tender submission for the joint development of the Baker Court project in Hung Hom, the Urban Renewal Authority (URA) today (Friday) made the following statement: One tender offer has been received for the joint venture development of the Baker Court project in Hung Hom. A tender review panel under the URA Board will consider the tender and make recommendation to the Board for a decision in due course. The seven developers who earlier took part in an expression of interest exercise for the project were invited to submit a tender. The project covers a site area of about 2,980 square feet and upon completion, is expected to deliver a maximum gross floor area of about 26,800 square feet for residential and commercial use. - End -
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11 Apr 2008
URA welcomes Town Planning Board's decision on Kwun Tong Town Centre project
The Urban Renewal Authority (URA) today (Friday) welcomed the decision of the Town Planning Board (TPB) to submit the two development scheme plans of the Kwun Tong Town Centre project to the Chief Executive-in-Council for approval after completing the statutory public consultation and hearing process. This represents a major stride in the implementation of the mega project. URA Managing Director, Mr Quinn Law, said: "The URA plans to begin property acquisition for the affected owners, in about four to five months, after obtaining ExCo's approval. We hope that property acquisition can take place by the end of 2008." "While ExCo's approval is the pre-requisite before we can go ahead with the project, active preparatory work is now in full swing. After the ExCo gives its green light, o
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8 Apr 2008
Reference Notes on the MLP of Staunton Street / Wing Lee Street Project
In 2007, the TPB proposed an amendment to the draft Development Scheme Plan to the Staunton Street/Wing Lee Street, which was subsequently approved by the Chief Executive in Council in October 2007. The revised Planning Brief was then endorsed by the TPB in November 2007. Views collected during public consultation have been carefully considered by the Urban Renewal Authority (URA) in the course of the preparation of Master Layout Plans (MLPs). On 8 December, 2007, a community workshop was held to solicit the public views and aspirations of the proposed development in the H19 area. The Food, Environmental Hygiene and Works Committee and the Urban Renewal Working Group of Central and Western District Council as well as the URA Central and Western District Advisory Committee have been co
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31 Mar 2008
Sino Land Company Limited wins URA's Pine Street/Anchor Street Project
The Urban Renewal Authority (URA) today (Monday) announced that a wholly-owned subsidiary of Sino Land Company Limited, Sincere Development Limited, has won the joint development contract for its Pine Street/Anchor Street project in Tai Kok Tsui in a public tender exercise. The project covers a site area of about 25,000 square feet and upon completion, is expected to deliver a maximum gross floor area of about 225,500 square feet for residential and commercial use. Sino Land Company Limited is one of the eight property developers who tendered for the joint venture project. Based on the recommendation of a tender review panel appointed by the URA Board, members of the Board agreed that the offer made by Sino Land Company Limited has met all the tender requirements and, at the same t
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31 Mar 2008
URA Expands Conservation Strategy for Cantonese Verandah-type Shophouses
The Urban Renewal Authority (URA) announced today (Monday) an expansion of its conservation strategy to preserve some 48 pre-war shophouses of Cantonese verandah-type. "This is perhaps the most ambitious initiative of the URA to preserve the heritage of our city," said Mr. Barry Cheung, Chairman of the URA. The URA has been preserving and revitalising historical buildings under its 4R strategy, namely Redevelopment, Revitalization, Rehabilitation and pReservation. "We are going to take up the challenge of preserving shophouses that have witnessed the development of Hong Kong's architectural and cultural landscape, and we will adopt a strategy that is based on a voluntary or market approach as far as practicable. Only if it is absolutely necessary, compulsory acquisition will be consid
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28 Mar 2008
Invitation to Tender for Baker Court Project in Hung Hom
The Urban Renewal Authority (URA) today (Friday) invited a total of 7 property developers to tender for the joint development of the Baker Court redevelopment project in Hung Hom. The project covers a site area of about 2,980 square feet and upon completion, is expected to deliver a maximum gross floor area of about 26,800 square feet for residential and commercial use. Following the expression of interest exercise which closed on 14 March 2008, 7 submissions were received by the Authority. A tender review panel under the URA Board has decided to invite all of the 7 interested parties for tender, after taking into consideration their experience and financial strength to undertake the development in accordance with the requirements and criteria set by the Authority. All tender submis
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18 Mar 2008
Sai Yee Street Project in Mong Kok begins property acquisition
The Urban Renewal Authority (URA) today (Tuesday) issues offer letters to owners of 175 property interests affected by the Sai Yee Street project in Mong Kok. Eligible owner-occupiers of domestic properties will be offered $7,012 per square foot of saleable floor area. A spokesman of the URA said: "The acquisition offers for domestic properties are based on the Government's Home Purchase Allowance policy, whereby eligible owner-occupiers would receive an offer equivalent to the market price of a notional seven-year-old flat of similar size in the locality. The unit rate applicable for the project was decided by an established mechanism, through which seven independent surveyor firms have been appointed for valuation." The latest total development cost of this project is estimated to b
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14 Mar 2008
Expression of Interest for URA's Baker Court Project in Hung Hom
In response to media enquiries today (Friday) on result of the expression of interest exercise for the Baker Court joint development project in Hung Hom, a spokesman of the Urban Renewal Authority (URA) said that a total of seven submissions have been received. A tender review panel under the URA Board will shortlist the qualified parties and invite them to submit a formal tender for the development. It is expected that the tender exercise will take place in the near future. The project covers a site area of about 2,980 square feet and upon completion, is expected to deliver a maximum gross floor area of about 26,800 square feet for residential and commercial use. (END)
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11 Mar 2008
Sai Yee Street Project in Mong Kok will begin property acquisitio
The Urban Renewal Authority (URA) would issue offer letters to owners of 175 property interests affected by the Sai Yee Street project in Mong Kok in ten working days. Eligible owner-occupiers of domestic properties will be offered $7,012 per square foot of saleable floor area. A spokesman of the URA also clarified reports published yesterday( Monday) and today (Tuesday) on URA's offer for the Sai Yee Street project. "The figures as quoted are not provided by the URA and not accurate," said the spokesperson. The acquisition offers for domestic properties are based on the Government's Home Purchase Allowance (HPA) policy in which HPA is the difference between the market value of the acquired property and that of a notional seven-year-old flat of similar size in a similar locality. In a
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7 Mar 2008
URA tender closes for Pine Street/Anchor Street project
In response to media enquiries on the tender submissions for the joint development of the Pine Street/Anchor Street in Tai Kok Tsui, the Urban Renewal Authority (URA) today (Friday) made the following statement: A total of eight tender offers have been received for the joint venture development of the Pine Street/Anchor Street in Tai Kok Tsui. A tender review panel under the URA Board will consider the tenders and make recommendation to the Board for a decision in due course. Among the developers who earlier took part in an expression of interest exercise for the project, 13 were invited to submit a tender. The project covers a site area of about 25,000 square feet and upon completion, is expected to deliver a maximum gross floor area of about 225,500 square feet for residentia